(Moody’s, 3.Jun.2015) – Moody’s Investors Service assigned a Ba2 rating to Petrobras Global Finance B.V.’s proposed global notes, which will be unconditionally guaranteed by Petrobras. The Ba2 rating on the proposed notes is based on the rating of Petrobras (Ba2 stable). The proposed notes are senior unsecured and pari passu […]
Tag: Moody’s
Moody’s Covenant on YPF Bond Offering
(Moody’s, 20.May.2015) – Moody’s Investors Service assigned an overall covenant quality score of 3.37 to YPF Sociedad AnĂłnima’s $1,500 million 8.500% Senior Notes due 2025. ***
Moody’s Assigns Rating to RaĂzen Energia
(Moody’s, 30.Apr.2015) – Moody’s AmĂ©rica Latina assigned a Baa3 global scale and Aaa.br national scale ratings to RaĂzen Energia S.A.’s proposed BRL 500 million senior unsecured CPR-F (CĂ©dulas de Produto Rural Financeiras) due 2021 and guaranteed by RaĂzen CombustĂveis S.A. The outlook for the rating is stable. The rating of […]
Moody’s Confirms Petrobras Argentina Notes
(Moody’s, 28.Apr.2015) – Moody’s Latin America Agente de CalificaciĂłn de Riesgo confirmed the Ba2/Aaa.ar global scale rating and national scale rating on Petrobras Argentina S.A.’s (Petrobras Argentina) $300 million in guaranteed Series S notes (CUSIP 71646JAB5). The rating action reflects Moody’s Investors Service’s rating action on 27.Apr.2015 of confirming Petrobras’ […]
LNG Projects Nixed Amid Low Oil
(Moody’s, 7.Apr.2015) – LNG suppliers are curtailing their capital budgets, amid low oil prices and a coming glut of new LNG supply from Australia and the U.S.A., Moody’s Investors Service said in its report, “Lower Oil Prices Cause Suppliers of Liquefied Natural Gas to Nix Projects.” Moody’s says low LNG […]
Moody’s Comments on Braskem
(Global Credit Research, 3.Mar.2015) – Moody’s Investors Service comments that Braskem S.A. announcement of a third extension of its naphtha supply contract with Petroleo Brasileiro S.A. (Petrobras) is credit negative because it fails to set the final conditions for Petrobras long-term contract, although it reduces fuel supply risk. ***
Petrobras Credit Rating Downgrade
(Petrobras, 27.Feb.2015) – Regarding the downgrade to Petrobras’ debt rating announced on February 24, 2015 by Moody’s, the company emphasizes that it is working to guarantee the transparent and accurate disclosure of its 2014 financial results as soon as possible. Furthermore, Petrobras is implementing a series of measures aimed at […]
Moody’s Rates YPF’s Proposed Global Notes
(Global Credit Research, 4.Feb.2015) – Moody’s Investors Service assigned a Caa1 global foreign currency rating to YPF Sociedad Anonima’s (YPF)’s proposed $750 million in aggregate in addons to its outstanding 8.875% $587 million notes due in 2018 and 8.750% $1,000 million notes due in 2024. Both series were issued in […]
Mood’s Downgrades Construtora Andrade Gutierrez
(Global Credit Research, 21.Jan.2015) – Approximately $500 million of rated debt affected. Moody’s Investors Service (Moody’s) downgraded to Ba2 from Ba1 the corporate family rating assigned to Construtora Andrade Gutierrez S.A. (CAG) and the rating of its guaranteed notes issued by Andrade Gutierrez International S.A. (AGInt). The outlook for all […]